XRP (XRP) Can Outperform the Top Cryptocurrencies Despite Its Large Circulating Supply, Veteran Trader Explains

The cryptocurrency market is abuzz with discussions surrounding XRP's recent price surge. Adding to the excitement, Jay Grissom (@jfgrissom), a veteran trader, recently showed how XRP can outperform the top cryptocurrencies despite its large circulating supply.

Veteran trader Jay Grissom (@jfgrissom) recently highlighted how XRP can outshine the top cryptocurrencies despite its large circulating supply, sparking interesting discussions in the cryptocurrency community.

While some may be surprised by XRP's growth considering its larger circulating supply compared to cryptocurrencies like Ethereum, Grissom points to several key factors driving XRP's potential.

Crucial Distinction in Target Markets and Higher Accumulation Capacity

Grissom emphasizes the crucial distinction between XRP's and ETH's target markets. XRP is primarily geared towards the banking and financial sectors, known for their substantial buying power and broader use cases.

In contrast, ETH and Binance Coin are largely targeted at the retail market, which typically has a lower capacity for accumulating cryptocurrencies. As a result, XRP's larger circulating supply caters to the anticipated demand from these institutional players.

While XRP's circulating supply stands at 56 billion compared to Ethereum's 120 million, the former's relative scarcity in the financial markets is a key factor in its price performance.

Crucial Regulatory Clarity and Ongoing Developments

XRP has achieved a significant milestone with its regulatory clarity, contrasting with the ongoing regulatory discussions surrounding Ethereum. Many experts believe this clarity can boost investor confidence in XRP.

Another key factor is the upcoming integration of a U.S.-dollar-backed stablecoin, RLUSD, onto the XRP Ledger (XRPL). The introduction of stablecoins on other blockchains, like Binance Smart Chain, has historically correlated with significant price increases for the native token (BNB).

The potential for a similar effect on XRP is attracting investor interest.

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Promising XRP Ecosystem Developments and Impressive Performance

Beyond regulatory clarity, several promising developments are unfolding within the XRP ecosystem.

The announcement of a $12 per unit XRP-based exchange-traded product (ETP) and the Commodity Futures Trading Commission's (CFTC) recognition of XRP as a commodity are significant milestones.

These developments, coupled with the anticipated resolution of Ripple's ongoing legal battle with the SEC, paint a positive picture for XRP's future.

XRP's recent price surge has been remarkable. It has witnessed a 24.73% surge over the past 7 days, finally crossing over the $0.5 level after prolonged underperformance. Notably, this bullish trend comes amid a more subdued performance by other leading cryptocurrencies, solidifying XRP's position as the top performer among the top ten crypto assets.

The XRP community recently celebrated the anniversary of the court ruling that gave it legal clarity. The community is bullish on XRP's future, and Grissom's comments have bolstered the confidence of many investors.

: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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